BTC has been forming a 4 hour equilibrium for a day at this point and is likely to see a volume spike and break of this range shortly.
We already got a small bull break on coinbase for the bulls but no follow through so far.
With a bull break we look to the top of the bitmex move, and with a bear break we look back to $6,400s.
People ask why do we consider the bitmex manipulation and the answer is because there are no other clear resistances nearby and traders are using this as a stop level for their short positions.
Bulls still holding EMA 4 hour support to try and remain in control as they have for the last few days.
We should see some clear directional momentum today to start the week. Bulls still have to get to $7k+ in order for the weekly equilibrium to be balanced and fairly even probabilities for a break in either direction.
We already got a small bull break on coinbase for the bulls but no follow through so far.
With a bull break we look to the top of the bitmex move, and with a bear break we look back to $6,400s.
People ask why do we consider the bitmex manipulation and the answer is because there are no other clear resistances nearby and traders are using this as a stop level for their short positions.
Bulls still holding EMA 4 hour support to try and remain in control as they have for the last few days.
We should see some clear directional momentum today to start the week. Bulls still have to get to $7k+ in order for the weekly equilibrium to be balanced and fairly even probabilities for a break in either direction.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Checkout our full trading resources online chartguys.com
Improve your TA with our free ebooks chartguys.ac-page.com/lp-all-ebooks?utm_source=tradingview&utm_medium=social
Improve your TA with our free ebooks chartguys.ac-page.com/lp-all-ebooks?utm_source=tradingview&utm_medium=social
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.